Tenet Healthcare (NYSE:THC) Issues Q3 2019 Earnings Guidance

Tenet Healthcare (NYSE:THC) issued an update on its third quarter 2019 earnings guidance on Monday morning. The company provided EPS guidance of $0.23-0.48 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.16. The company issued revenue guidance of $4.3-4.6 billion, compared to the consensus revenue estimate of $4.43 billion.Tenet Healthcare also updated its FY 2019 guidance to $2.08-2.59 EPS.

Shares of Tenet Healthcare stock traded down $0.25 on Monday, reaching $22.10. The stock had a trading volume of 1,170,990 shares, compared to its average volume of 1,566,218. The business has a 50-day moving average price of $20.18. The company has a current ratio of 1.23, a quick ratio of 1.15 and a debt-to-equity ratio of 21.98. Tenet Healthcare has a fifty-two week low of $16.60 and a fifty-two week high of $39.39. The company has a market capitalization of $2.31 billion, a PE ratio of 11.88, a P/E/G ratio of 0.62 and a beta of 1.65.

Several research firms recently commented on THC. TheStreet cut shares of Tenet Healthcare from a c rating to a d+ rating in a research note on Monday, May 13th. Barclays set a $24.00 target price on shares of Tenet Healthcare and gave the company a hold rating in a research note on Wednesday, April 17th. SunTrust Banks cut their target price on shares of Tenet Healthcare to $27.00 and set a hold rating for the company in a research note on Wednesday, May 1st. Finally, ValuEngine cut shares of Tenet Healthcare from a sell rating to a strong sell rating in a research note on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. Tenet Healthcare currently has an average rating of Hold and a consensus target price of $29.46.

In other Tenet Healthcare news, major shareholder Glenview Capital Management, L purchased 27,424 shares of the stock in a transaction on Friday, July 26th. The shares were purchased at an average price of $20.99 per share, with a total value of $575,629.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.50% of the stock is owned by corporate insiders.

About Tenet Healthcare

Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.

See Also: Percentage Gainers

Earnings History and Estimates for Tenet Healthcare (NYSE:THC)

Receive News & Ratings for Tenet Healthcare Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tenet Healthcare and related companies with MarketBeat.com's FREE daily email newsletter.